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Indonesia's best bank for digital solutions 2022: Bank Mandiri

Bank Mandiri

The last two years have taught Indonesian lenders one hard but important lesson – customers need banking, but they don’t necessarily need banks.

By 2026, two out of every five Indonesians, or 39% of the total population, will have a digital bank account. This is up from 25% in 2021, according to Katadata, a local research company.

Bank Mandiri, Asiamoney’s best domestic bank in Indonesia and best bank for digital solutions this year, has proved prescient: it embraced the change just before the pandemic hit by putting digitalization at the heart of its transformation. During Asiamoney’s review period of April 1, 2021, to March 31, 2022, the bank upped its game.

Along with its group companies, Mandiri already has the advantage of dominating Indonesia’s wholesale and retail markets. But going digital helped the bank to bring its roughly 35 million deposit accounts, more than 5 million micro clients and 1 million-plus small and medium-sized enterprise customers all under one system.

The bank has invested heavily in digitalization, overhauling its core banking systems and switching to cloud-based computing models. It has used high-performance and secure infrastructure and hired about 140 data scientists to help it on this journey.

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